GlobeLTR Energy, Inc. has sold its Well Servicing Division to Brigade Energy Services LLC
GlobeLTR Energy, Inc. (“GlobeLTR”)
Well Servicing Division (the “Division”)
GlobeLTR, a portfolio company of Clearlake Capital, is a growth-oriented, Permian-focused provider of a wide range of oilfield services to U.S. onshore oil and natural gas exploration and production companies, including water logistics and infrastructure solutions, portable power generation and equipment rentals and specialty production chemicals. GlobeLTR’s Well Servicing Division provides conventional workover services, completion-related services and plug and abandonment services primarily to customers in the Permian Basin. The Division’s asset fleet includes 69 well servicing rigs and ancillary equipment.
Clearlake Capital Group, L.P. (“Clearlake”)
Clearlake is a leading private investment firm founded in 2006. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are industrials and energy; software and technology-enabled services; and consumer. Clearlake currently has over $3.5 billion of assets under management and its senior investment principals have led or co-led over 90 investments.
Brigade Energy Services LLC (“Brigade”)
Brigade is a well service and energy solutions company focused on providing new well completion and recompletion operations, workover and remediation, repair and maintenance, plug and abandonment, water hauling trucking and equipment rental services to the domestic oil and gas industry. The Company was formed in 2016 and is headquartered in Denver, Colorado.
Turnbridge Capital, LLC (“Turnbridge”)
Turnbridge is an energy-focused private equity firm with offices in Dallas and Houston, Texas. The firm typically invests alongside experienced management teams in companies that provide products and services to the upstream, midstream, downstream, and other energy-related infrastructure segments.
PPHB, LP (“PPHB”)
PPHB is an independent investment banking firm providing financial advisory services exclusively to clients in the oilfield equipment and service industry.